March 22, 2006	Wednesday	Safar 21, 1427

ISLAMABAD, March 21: The Privatization Commission (PC) has received 34 Statements of Qualification (SoQs) for pre-qualification purposes from strategic investors for acquiring 51 per cent shareholding in SNGPL and SSGC. For each company 17 SOQs have been received. The major players include British Petroleum, Shell Gas and Power, PTT Thailand, Enbridge Canada, MOL Hungary, Mitsui Japan, Hanover USA, Tara Energy USA, Calik Energy Turkey, Premier Oil London, Bestway UK, Burhan Oil Services Kuwait, Abu Dhabi Group, Korea Gas, etc. Some of these companies have joined hands with local groups to form consortia while others have preferred to participate on their own.

Some of the parties have expressed interest for both the gas utilities to increase their chances of success. It may be noted that the Privatization Commission would not allow one party to acquire both the companies however one party may participate in the privatization process for both.

The process of evaluation of the SOQs has already begun and is likely to be completed by the end of April 2006. Thereafter the qualified bidders will be allowed to conduct their due-diligence after due process.

The PC’s marketing efforts for privatization of the SGNPL and SSGC had generated tremendous interest amongst international investors, which was evident from the receipt of a large number of SoQs for these transactions.